CHECKLIST FOR YOUR LAUNCH

For the thousands of Americans who are receiving pink slips each week, there may be no alternative but to start a small business. This is the way to turn a crisis into an opportunity. Follow your passion. Figure out a business that will permit you to pursue it. (Get started with our free fill-in-the-blank workbook--see box in right column of this blog.)

After you've zeroed in on the biz you want to start, have determined there is a real need for your product/service right now, and have organized a marketing plan, follow this quick checklist for your small business launch:
_Pick a name for your business.
_Select your company's legal structure (sole proprietorship is most common)
_Visit legal self-help sites like nolo.com for more information on incorporating if you choose to go that route.
_Visit your county clerk's office to file a DBA (doing business as) form.
(this will permit you to open a business checking account in your biz name).
_While at the country clerk's office get info to apply for a business license.
_Apply for a seller's permit.
_Apply for a Federal Tax ID (EIN)(this will permit you to buy goods from wholesalers, too, and not pay taxes on the items).
_Determine if you need additional home and/or business liability insurance; talk with your agent.
_Open a business checking account.
_Visit irs.gov to investigate tax matters.
_Figure out what you'll do for health insurance, before you leave your current job, or COBRA insurance.
_Set up a home page website or get a free blog with blogger.com to demonstrate your web presence.
_Stay positive. It could take months for your new business to click with your client base. If you believe your have a good idea for our times, don't let the naysayers get you down.